are the bondholders more important than the sergeant in afghanistan? that's a tough decision to make. those are the kinds of choices that have to be made, the kind of contingency plans that the treasury is mapping out today. it really terribly dangerous. >> let me ask you, before i turn to bigger issues, what are the political consequences for the president, for the speaker of the house, and for those republicans who are taking a hard-line in the house of representatives? >> well, i mean, i think the president believes that because public opinion is more on his side than on the republican de, particularly on the shape of a big plan or who has been less willing to compromise, that they feel that almost any outcome is likely to be beneficial to the president politically. i think that when he went on the tv on monday night, his speech was aimed at the independence that the white house is -- independents that the white house is so focused on to convince them he's the reasonable player in this. i'm not sure that that's necessarily the case when we come out